BNB is indeed heating up, with its current price at $604.68 and a 1.07% increase. The coin is testing the upper resistance near $607, and bullish momentum is building with each hourly close. Here's a breakdown of the key levels and trade plan :
- Resistance Levels:
- $607-$610: A breakout above this range could confirm the continuation of the bullish trend.
- $618 and $630: Potential targets if the breakout sustains.
- Support Levels:
- $598-$590: A drop below this range could stall the bullish momentum.
- $590: A stop-loss level to limit potential losses.
- Trade Plan:
- Entry Zone: $602-$604
- Take Profit Targets:
- TP1: $610
- TP2: $618
- TP3: $630
- Stop Loss: Below $590
Some analysts predict a potential surge to $630 or even $760, while others see a possible correction. The Relative Strength Index (RSI) indicator's rebound to the midline signifies growing momentum and confidence. Additionally, Binance Coin's recent recovery has it trading above critical EMAs, giving bulls a short-term edge .
To confirm the breakout continuation, watch for a clean candle close above $607 with strong volume. Keep an eye on Bitcoin's movement, as BNB's high correlation with it could impact its trajectory.
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